Microsoft Chief Financial Officer John Connors held a press briefing today in Japan to discuss the status of the Xbox. Therein, he affirmed the company's long-term commitment to the Japanese market and expressed regret over initial problems that plagued the console's launch in the region. Moreover, he went on to say that Microsoft's goals for the Japanese market are clear and vowed there would be no more mistakes.

While Connors refused to divulge Xbox sales figures in Japan, he emphasized the success of the console in American market. According to Microsoft, the Xbox has sold at a 25 percent faster pace than Sony's PlayStation 2 in America during comparative launch periods. More than 1.5 million consoles have been sold in America since its launch last November. Consumers in Europe and Japan however have been far less accepting of the Xbox. When asked why, Connors said, "Our sales projections for the European and Japanese markets were too bold because the Xbox wasn't launched during a holiday period. It has also suffered from a lack of software in both regions. You have to remember, this was our first experience with launching a videogame console and admittedly we've made some mistakes. But going forward, there will be no more miscalculations."

When asked how Microsoft plans to broaden the appeal of the console, Connors said, "In Europe, we've reduced the price of the Xbox to remain competitive. Now we're focused on strengthening other aspects of the business such as the variety of software available and the networking capabilities of the Xbox. As for the Japanese market, there may be room for a price cut in the future as well. Microsoft has had experience with other product launches in Japan, and we're going to fight tenaciously to success in the long-term. We fully intend to do what it takes to remain competitive with Sony and Nintendo."